Check out the companies that are trending in intraday trading: Alcoa — CEO William Oplinger said Wednesday that U.S. aluminum tariffs on Canadian imports will reduce the cost of aluminum by $15 per year. Alcoa’s stock price fell about 4% after it said the price of aluminum would increase by $2 billion to $2 billion. Trade costs with Canada and Mexico will negatively impact domestic supply chains and the auto market. Alcoa is the largest aluminum producer in the United States. American Airlines — Shares fell 8% after the company gave disappointing first-quarter guidance. The company said it expects an adjusted loss of 20 to 40 cents per share. Analysts surveyed by LSEG had expected a loss of 4 cents per share. Elevance Health — Shares of the health insurance company rose 1.3% after Elevance beat expectations for the fourth quarter. The company reported adjusted earnings of $3.84 per share on sales of $45 billion, slightly above the FactSet consensus call of $3.81 per share on sales of $44.92 billion. Ta. Electronic Arts — Shares fell 17% as the video game publisher lowered its net reservations guidance for both the third quarter and the full year. Electronic Arts cited the poor performance of games such as the soccer series as a contributing factor to the shortage. Plexus — Shares of the aftermarket electronics product fell 9% after the company announced disappointing second-quarter earnings guidance. Plexus expects revenue in the range of $960 million to $1 billion, lower than the $1.02 billion expected by analysts, according to FactSet. AST SpaceMobile — Shares fell more than 14% after the satellite company announced the issuance of $400 million in convertible debt. GE Aerospace — Shares soared nearly 7% after GE Aerospace posted better fourth-quarter profits and sales. The defense and aerospace company reported adjusted earnings per share of $1.32, which beat analysts’ estimates of $1.04 compiled by LSEG. GE Aerospace’s revenue of $9.88 billion also exceeded expectations of $9.51 billion. Guidewire Software — Shares rose 9.9% after Goldman Sachs initiated coverage of a buy rating on the company. Guidewire Software, which provides a cloud software platform to property and casualty insurance companies, is expected to perform better as cloud adoption increases among insurers, Goldman said. Union Pacific — The railroad company’s stock rose nearly 5% after Union Pacific reported fourth-quarter profits that beat Wall Street expectations. Earnings came to $2.91 per share, compared to analyst estimates by LSEG of $2.78. Sales were lower than expected, at $6.12 billion. Analysts had expected $6.14 billion. Alaska Airlines — Airline stock rose more than 4%. Alaska Airlines posted adjusted earnings of 97 cents per share in the fourth quarter, beating analysts’ expectations of 47 cents, according to FactSet. —CNBC’s Hakyung Kim, Jesse Pound, Samantha Subin, Lisa Han and Michelle Fox contributed reporting.
